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5 Written questions

5 Matching questions

  1. Accrual basis of accounting
  2. Trial balance
  3. Disbursement journal
  4. Accounting four-stages
  5. Cash basis of accounting
  1. a should be done once a month after all posting has been completed and before the monthly statements are prepared. The purpose of process is to disclose any discrepancies between the journal and the ledger.
  2. b usually consists of a section at the bottom of each day sheet and a check register page at the end of each month, plus monthly and annual summaries.
  3. c recording, classifing, summarizing, and interpreting financial statemends.
  4. d A method of accounting in which income is recorded when received and expenses are recorded when paid.
  5. e Method of accounting in which income is recorded when earned and expenses are recorded when incurred.

5 Multiple choice questions

  1. A paper describing a purchase and the amount due.
  2. Social security number of the employee
    Number of withholding allowances claimed
    Amount of gross salary
    All deductions for the Social Security and Medicare taxes; federal, state, and city or other subdivision withholding taxes; state disability insurance; and state unemployment tax, where applicable.
  3. provides information about the amounts owed to the physician.
  4. single-entry system, double-entry system, and pegboard (write-it-once) system
  5. Form W-4

5 True/False questions

  1. Common accounting systemssingle-entry system, double-entry system, and pegboard (write-it-once) system


  2. categories considered for the physician's operating budget$25 to $50


  3. BookkeepingEnter all charges and receipts immediately in the daily record or journal. Post all cahrges and receipts to the patient ledger daily. Do not erase, write over, or blot out figures.


  4. The best way to begin a budget is to look at the expenses from theprevious year


  5. Each employee and employer must have aTax identification number